Key Takeaways
- • Qatar Insurance Co. (QIC) has slightly reduced its appetite for new allocations to Gulf Cooperation Council (GCC) equities, while keeping its investment policy unchanged, according to group chief investment officer Chirag Doshi.
- • QIC is shifting toward cash, money-market funds, short-duration high-grade fixed income and alternative credit to preserve liquidity and generate stable yields during geopolitical stress.
- • QIC has been highly selective in equities and private markets after adding aggressively in 2024 and 2025, and Doshi said deployment could pick up again in 2027.
- • QIC holds no U.S. stocks directly; its direct equity exposure is concentrated in Qatar, Oman and the United Arab Emirates.
Summary
Qatar Insurance Co. (QIC) is slowing its allocations to Gulf equities and prioritizing liquidity as the Middle East conflict continues, according to Markets Group. Chirag Doshi, the insurer's group chief investment officer, said the war has not prompted changes to QIC's investment policy, but it has modestly reduced the firm's appetite for new GCC equity investments.
Rather than deploying into equities, QIC is directing capital toward cash, money-market funds, short-duration high-grade fixed income securities and alternative credit strategies. Doshi said the aim is to preserve liquidity and generate stable yields during periods of geopolitical stress, so the insurer can meet its obligations to policyholders if conditions deteriorate. He added that QIC has been very selective in equity and private-market allocations, after adding to both aggressively in 2024 and 2025, and that the pace of deployment could pick up again in 2027.
Doshi characterized the regional environment as less severe than headlines might suggest. He said financial conditions in the region have not been extremely severe, that Qatar's local liquidity remains stable, and that daily life, including office work and schools, has returned to some degree of normalcy. He noted, however, that the Strait of Hormuz remains subject to closures and restrictions. He acknowledged that uncertainty persists and that "it is only natural for institutions from the region to be a bit cautious while investing."
QIC's direct equity holdings are in markets including Qatar, Oman and the United Arab Emirates, and the firm does not hold U.S. stocks directly. The article was truncated before providing further detail on the portfolio's U.S. exposure.
Rather than deploying into equities, QIC is directing capital toward cash, money-market funds, short-duration high-grade fixed income securities and alternative credit strategies. Doshi said the aim is to preserve liquidity and generate stable yields during periods of geopolitical stress, so the insurer can meet its obligations to policyholders if conditions deteriorate. He added that QIC has been very selective in equity and private-market allocations, after adding to both aggressively in 2024 and 2025, and that the pace of deployment could pick up again in 2027.
Doshi characterized the regional environment as less severe than headlines might suggest. He said financial conditions in the region have not been extremely severe, that Qatar's local liquidity remains stable, and that daily life, including office work and schools, has returned to some degree of normalcy. He noted, however, that the Strait of Hormuz remains subject to closures and restrictions. He acknowledged that uncertainty persists and that "it is only natural for institutions from the region to be a bit cautious while investing."
QIC's direct equity holdings are in markets including Qatar, Oman and the United Arab Emirates, and the firm does not hold U.S. stocks directly. The article was truncated before providing further detail on the portfolio's U.S. exposure.
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